$Space Exploration Tech(SPCX.US)
SpaceX's valuation is undoubtedly overvalued, but it's important to consider that the placed shares only account for about 3% of the total share capital, with the previously locked-up shares to be gradually unlocked later.
The first batch of shares will be unlocked around mid-August, with the Q2 earnings report. During this period, there will be institutional position building, retail buying, as well as leveraged funds, index passive funds, etc. The available shares in the market are limited, creating genuine scarcity.
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